Donaco revenue plummets 46.4% in Q2 amid Covid-19 restrictions
Donaco has revealed that revenue fell 46.4 per cent during the second quarter of the year due to Covid-19 restrictions.
Australia.- Donaco International has reported that revenue for the second quarter of the year was down 46.4 per cent to AU$1.5m. EBITDA was AU$0.5m.
The temporary closure of Star Vegas on April 27 amid new Covid-19 infections in Cambodia and the closure of all casinos in the Banteay Meanchey province has deeply affected revenue.
The company said it has kept an emphasis on continued cost control measures and mitigation activities, which resulted in a reduction in operating expenses to A$U1.3m.
Donaco agreed a new repayment plan on debts, comprising an alternative monthly repayment of US$1m over six months between June 2021 to November 2021 and a final instalment of US$1.8m to be paid by 31 December 2021.
For the first quarter of the year, Donaco reported that revenue was down from AU$6m in the prior quarter to AU$2.8m. EBITDA for the quarter was AU$0.29m.
